Emotional rollercoaster of home selling

AccoFebruary 13, 2013

Lately, this process of having my condo up for sale has been taking its toll on my emotions!

I bought my condo 5 yrs ago when I was single. I got married, and my husband and I are ready to ditch the condo and get a house. We listed the condo a year and a half ago (which has been hard enough already!!)

We've almost sold it three times so far, and now I'm waiting in suspense to hear what another buyer has decided to do...

In December we had an almost-offer, but after several agonizing weeks of deliberation, they bought a smaller, less expensive unit in our neighborhood instead. After that big let-down, my husband finally caved in to my requests to replace our ugly green carpet, and we put in new, neutral beige carpet a month ago.

We've had a lot more showings, and a lot more positive feedback and interest since we changed the carpet (which is encouraging!). On Super Bowl Sunday, we got our first actual offer - we were elated! However, the very next morning, the buyer rescinded :( Talk about an emotional rollercoaster. Turns out they had offered on another property first, and that seller accepted. (later found out they couldn't get financing anyway, so it wouldn't have mattered if we got them)

Last Thursday we had a showing and feedback said it was the buyer's top choice out of what they had seen (here's where I let my hopes get too high!) However, they had plans to see some more condos on Tuesday (aka, yesterday), so I've been anxiously waiting to see what happens ever since. On Sunday, their agent called ours to make sure our condo was still available. He told our agent that they were going to look at four foreclosed fixer-uppers that were not nearly as nice as ours, and hinted that he hoped to be bringing us an offer soon.

So, yesterday came and went, with no offer. Our agent hasn't heard from theirs yet (she has requested that he call her back). I still cling to hope that maybe they're just sleeping on it, but I'm also steeling myself for another heartbreak.

Man, this sucks! Will we ever win a buyer?

At least things seem to be on the right track. I think our price is right (below recent comps, below others in the neighborhood, though we'll be losing about $20k) and at least the agents all seem to love our listing. We've been getting a lot more people saying "maybe" interested, compared to most saying "not at all" interested prior to the carpet.

Have any of you out there had a home that took forever to sell? What do you think finally made the difference in getting a buyer?

I hope to hear soon either yes or no from this buyer so I can end this horrible suspense!! That's the worst part :P

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ncrealestateguy

In my experience, if you keep coming in second place, you are priced just a bit high. The buyers like your place, but keep finding other places that offer more value. Either reduce the price a bit or wait for the market to reach your current price.

    Bookmark   February 13, 2013 at 6:49PM
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brickeyee

Sounds overpriced.

What was your asking price based on?

This post was edited by brickeyee on Thu, Feb 14, 13 at 16:35

    Bookmark   February 14, 2013 at 4:34PM
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littlebug5

I can speak to "a home that took forever to sell" issue. We had our last home on the market for 4 years. Finally sold it in the spring of 2012.

How did we finally get it sold? The right people came along. We had a unique property and it needed unique buyers. We did not HAVE to sell, we just wanted to. We still live in the same community, but our old house was very large and located on 30 acres of wooded land. As we have aged, and our kids grew up, the place was simply too much for us. But we didn't want to give it away nor lose $$.

We had multiple showings through the years, but no solid offers. Very, very painful.

We now live in town in a smaller house on a MUCH smaller piece of land. And as far as our mortgage goes, we can see the light at the end of the tunnel. A good thing as we near retirement.

    Bookmark   February 16, 2013 at 5:08PM
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